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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

503000

Report Date :

14.04.2018

 

 

 

 

IDENTIFICATION DETAILS

 

Name :

SIGNODE INDIA LIMITED (w.e.f. 23.08.2013)

 

 

Formerly Known As :

STRAPEX INDIA LIMITED (w.e.f. 24.09.2004)

 

STRAPEX PACKAGING INDIA LIMITED

 

 

Registered Office :

3rd Floor, Jyothi Majestic, H. No.8-2-120/84, Road No. 2, Banjara Hills, Hyderabad – 500034, Telangana

Tel. No.:

91-40-23353781/ 67468900

 

 

Country :

India

 

 

Financials (as on) :

31.03.2016

 

 

Date of Incorporation :

13.08.2003

 

 

Com. Reg. No.:

36-091521 (New)

11-141730 (Old))

 

 

Capital Investment / Paid-up Capital :

INR 1070.860 Million

 

 

CIN No.:

[Company Identification No.]

U74950TG2003PLC091521 (New)

U74950MH2003PLC141730 (Old)

 

 

IEC No.:

[Import-Export Code No.]

Not Divulged

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AAHCS8120M

 

 

GSTN :

[Goods & Service Tax Registration No.]

36AAHCS8120M1Z0

 

 

Legal Form :

A Closely Held Public Limited Liability Company

 

 

Line of Business :

Manufacturing of Industrial Packaging. (Registered Activity)

 

 

No. of Employees :

Information declined by the management

 

 

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January 2017)

 

MIRA’s Rating :

A+

 

Credit Rating

Explanation

Rating Comments

A+

Low Risk

Business dealings permissible with low risk of default

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

Comments :

Subject was incorporated in the year 2003. It operates as a subsidiary of Strapex Holdings Limited, United Kingdom. It has fine track record.

 

It is engaged in manufacturing of straps for industrial packaging, viz, plastic strap, steel strap, stretch strap, edge and surface protectors, related products along with packaging/wrapping tools and machineries and service activities like site packaging, on-site maintenance, preventive maintenance, field engineering, package testing and packaging design.

 

For the financial year 2016, the revenue of the company has decreased by 5.52% but has managed to maintain low profit margin of 0.70%.

 

The rating factors in the healthy profitability, huge cash accruals along with robust capital structure and sound financial position of the company.

 

The ratings draw strength from the experience and resourceful promoter group, professional and qualified management team, well-established track record and brand identity of the business of industrial packaging (IPG), dominant market position in the strapping and wrapping segment in the country.

 

The rating takes into account of strong financial and managerial support that bank receives from its holding entity backed by its well experienced management team.

 

However, the ratings also factor in the proposed change in ownership of the company with the entire stake in Signode Industrial Group Holdings (Bermuda) Limited (SIG), (the ultimate holding company of SIL) to be transferred from Carlyle Group L.P. to

Crown Holdings Inc.

 

Business is active. Payment seems to be regular.

 

In a view of aforesaid, the company can be considered for business dealings with usual trade terms and conditions.

 

Note 1: The correct name of the company is “Signode India Limited”.

 

Note 2: As per the Registrar of Companies date of balance sheet (i.e. financial filed) is shown as 31.03.2017 but documents related to financial for the year 31.03.2017 are not available from any sources.

 

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

 

ECGC Country Risk Classification List

 

Country Name

Previous Rating

(30.09.2017)

Current Rating

(31.12.2017)

India

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderately Low Risk

 

B1

Moderate Risk

 

B2

Moderately High Risk

 

C1

High Risk

 

C2

Very High Risk

 

D

 

 

EXTERNAL AGENCY RATING

 

Rating Agency Name

CARE

Rating

Long term Bank Facilities= AA

Rating Explanation

High degree of safety and very low credit risk.

Date

13.03.2018

 

 

Rating Agency Name

CARE

Rating

Short term Bank Facilities= A1+

Rating Explanation

Very strong degree of safety and carry lowest credit risk.

Date

13.03.2018

 

 

RBI DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

 

 

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2016.

 

 

BIFR (Board for Industrial & Financial Reconstruction) LISTING STATUS

 

Subject’s name is not listed as a Sick Unit in the publicly available BIFR (Board for Industrial & Financial Reconstruction) list as of 14.04.2018

 

 

IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS

 

Subject’s name is not listed in the publicly available IBBI (Insolvency and Bankruptcy Board of India) list as of report date.

 

 

INFORMATION DENIED BY

 

Name :

Mr. Manoj

Designation :

Not Divulged

Contact No.:

91-22-2778027

Date :

12.04.2018

 

MANAGEMENT NON-COOPERATIVE (TEL NO.: 91-40-2353781 / 67468900)

 

 

LOCATIONS

 

Registered Office :

3rd Floor, Jyothi Majestic, H. No.8-2-120/84, Road No. 2, Banjara Hills, Hyderabad – 500034, Telangana, India

Tel. No.:

91-40-23353781/ 67468900/ 67468923/ 24

Fax No.:

91-40-23353791

E-Mail :

gaurav@signodeapac.com

info@signodeindia.com

Website :

http://www.signodeindia.com

 

 

Factory :

Located at:

 

  • Plot No. 13, Sec-2, IIE-Pantnagar, U.S. Nagar - 263145, Uttarakhand, India
  • Rudraram Village, Patancheru Mandal, Medak District - 502329, Telangana, India 
  • Survey No. 263, Surangi Village, Silvassa – 396240, UT of Dadra and Nagar Haveli, India
  • Plot No. D-2/E/24/2, Engineering Zone, Dahej-II Bharuch, District Gujarat - 392130, India
  • Site No. 41, Survey no. 88, 1st Cross, Vaishnodevi Industrial Estate, Phase 3, Kumbalgodu Village, Kengeri Hobli, Bangalore - 560074. Karnataka, India 

 

 

Sales Office :

219/220, 2nd Floor, The Great Eastern Galleria, Plot No. 20, Sector-4, Nerul Navi Mumbai – 400706, India

 

and also Located at :

 

 

Branch Office :

914/915 9th Floor, Rupa Solitair, Building No. A 21, Mellinium Business Park, Mahape, Navi Mumbai, Maharashtra, India 

 

 

DIRECTORS

 

As on 31.03.2017

 

Name :

Ravi Venkata Siva Ramakrishna

Designation :

Managing Director

Address :

Plot No. 24, Huda Layout Road No. 2, Banjara Hills, Hyderabad-500033, Telangana, India

Date of Birth/Age :

10.03.1956

Qualification :

Graduate in Engineering in Chemical Technology from Birla Institute of Technology and Science, Pilani and PGDM from IIM Ahmedabad

Date of Appointment :

01.01.2015

DIN No.:

00009421

 

 

Name :

Gaurav Maheshwari

Designation :

Wholetime Director

Address :

103, Kbr Saila Vilas, H. No. 6-3-1089, Gulmohar Avenue, Somaji Guda, Hyderabad-500082, Telangana, India

Date of Birth/Age :

08.11.1973

Qualification :

Chartered Accountant

Date of Appointment :

25.01.2012

DIN No.:

00085874

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

U21024KA2008PTC046375

STOPAK INDIA PRIVATE LIMITED

30/09/2016

-

 

 

Name :

Lakshmi Narayana Raju Namburi

Designation :

Wholetime Director

Address :

8-2-120/112/A/14, Road No-9, Jubilee Hills, Hyderabad-500033, Telangana, India

Date of Birth/Age :

01.07.1963

Qualification :

B.E (Mechanical)

Date of Appointment :

27.08.2014

DIN No.:

02441183

 

 

Name :

Uma Devaguptapu

Designation :

Wholetime Director

Address :

Plot 81 A/C, Unit D, MLA Colony, Road No. 12, Banjara Hills, Hyderabad-500034, Telangana, India

Date of Birth/Age :

15.10.1959

Qualification :

Degree in Economics and P.G Degree in Personnel Management and Industrial relations from Tata Institute of Social sciences, Mumbai and Law degree from Bombay

Date of Appointment :

30.09.2015

DIN No.:

05136697

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

U21024KA2008PTC046375

STOPAK INDIA PRIVATE LIMITED

30/09/2016

-

 

 

Name :

Richard Eben Morgan

Designation :

Director

Address :

2527 Marcy Ave Evanston-60201 US

Date of Birth/Age :

24.01.1959

Date of Appointment :

30.07.2014

DIN No.:

06856654

 

 

Name :

Nils Alfons Michael Stenger

Designation :

Director

Address :

Ipperfeld, 26, Kaarst Germany-41564 De

Date of Birth/Age :

02.04.1966

Date of Appointment :

14.12.2015

DIN No.:

06951692

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

U21024KA2008PTC046375

STOPAK INDIA PRIVATE LIMITED

30/09/2016

-

 

 

Name :

Javeri Chapshi Gangar

Designation :

Director

Address :

602/A, Om Residency, St.Xaviar Street, Opposite Bhoiwada Court, Parel, Mumbai-400012, Maharashtra, India

Date of Birth/Age :

18.12.1955

Date of Appointment :

30.03.2015

DIN No.:

07113325

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

U24233MH2012FTC233703

JOWAT ADHESIVES INDIA PRIVATE LIMITED

03/03/2015

-

U72200KA2012PTC065246

UNIDATA ANALYSIS SYSTEMS PRIVATE LIMITED

30/09/2016

-

U70100MH2005PLC155887

DESTIMONEY ENTERPRISES LIMITED

31/03/2015

-

 

 

Name :

Tikesh Dhirajlal Dedhia

Designation :

Director

Address :

2/24, Shree Neelgiri CHS, Navre Nagar, Ambernath (East), District Thane, Ambernath-421501, Maharashtra, India

Date of Birth/Age :

01.02.1983

Date of Appointment :

30.03.2015

DIN No.:

07140370

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

U70100MH2005PLC155887

DESTIMONEY ENTERPRISES LIMITED

31/03/2015

-

 

 

Name :

Ravindra Babu Gullapalli

Designation :

Wholetime Director

Address :

503, Lotus Enclave, 8-3-676, Yellareddyguda, Hyderabad – 500073, Telangana, India

Date of Appointment :

28.03.2017

DIN No.:

07744989

 

 

KEY EXECUTIVES

 

Name :

Gaurav Maheshwari

Designation :

Chief Financial Officer

Address :

103, KBR Saila Vilas, H. No. 6-3-1089, Gulmohar Avenue, Somaji Guda, Hyderabad-500082, Telangana, India

Date of Appointment :

30.07.2014

PAN No:

ADFPM7016A

 

 

Name :

Vanaja Kaleru

Designation :

Company Secretary

Address :

Plot No. 5, Lalitha Nagar Colony West, Marredpally, Secunderabad-500026, Andhra Pradesh

Date of Birth/Age :

19.09.1973

Date of Appointment :

01.06.2010

PAN No:

AQNPK1119M

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 31.03.2017

 

Names of Shareholders

 

No. of Shares

Strapex Holdings Limited, United Kingdom

 

107086040

Strapex Holding GmbH*, Switzerland

 

1

SPG Netherland B.V.*, Netherlans

 

1

Signode Sweden Holdings AB*, Sweden

 

1

SPG Denmark APS*, Denmark

 

1

MIMA Films S.a R.L.*, Luxembourg

 

1

Strapex Austria Gesellschaft m.b.h*, Austria

 

1

Total

 

107086046

 

 

Equity Share Break up (Percentage of Total Equity)

 

As on 29.09.2017

 

Category

Percentage

Promoter - Bodies corporate

100.00

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturing of Industrial Packaging. (Registered Activity)

 

 

Products :

Item Code No.

Product Description

72124000

Tensional Steel Strappings

39206220

Plastic Strapping

39202020

Industrial Packaging Machines

 

 

Brand Names :

Signode 

 

 

Agencies Held :

Not Divulged

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

Not Divulged

 

PRODUCTION STATUS NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

 

Customers :

 

Reference :

Not Divulged

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

 

No. of Employees :

Information declined by the management

 

 

Bankers :

Bank Name

HDFC Bank

Branch

HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai – 400013, Maharashtra, India

Person Name (With Designation)

--

Contact Number

--

Name of Account Holder

--

Account Number

--

Account Since (Date/Year of Account Opening)

--

Average Balance Maintained (If Possible)

--

Credit Facilities Enjoyed (If any)

--

Account Operation

--

Remarks (If any)

--

 

 

Facilities :

Secured Loan

31.03.2016

(INR in Million)

31.03.2015

(INR in Million)

Long-term Borrowings

 

 

Other loans and advances

20.987

29.983

Short-term borrowings

 

 

Loans repayable on demand from banks

286.366

0.000

Other loans and advances

155.000

100.000

 

 

 

Total

462.353

129.983

 

Auditors :

 

Name :

Deloitte Haskins and Sells

Chartered Accountants

Address :

7th Floor, Building 10, Tower B, DLF Cyber City Complex, DLF City, Phase II, Gurugram-122002, Haryana, India

Tel. No.:

91-124-6792000

Fax No.:

91-124-6792012

PAN N Income-tax PAN of auditor or auditor's firm :

AACFD3771D

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Holding Company :
  • Strapex Holdings Limited, United Kingdom

 

 

Associate :
  • Stopak India Private Limited, India

U21024KA2008PTC046375

 

 

Fellow Subsidiary Company :
  • Angleboard Plastic Packaging, United States
  • Signode Industrial Group Gmbh, Switzerland
  • ITW Litec France S.A.S, France
  • ITW Muller, United States

 

  • ITW INDIA PRIVATE LIMITED, India

U32301HR1979PTC038643

 

  • ITW Packaging Systems Group Gmbh, Germany
  • Haloila Bulgaria Eood, Bulgaria
  • Brevetti Signode Labea SPA, Italy
  • M.P.S. Metal Plastik Sanayi Cember Ve Pak.Sist.Iml.Ve Tic.A.S., Italy
  • ORGAPACK Gmbh, Switzerland
  • OY M.Haloila AB, Finland
  • Paslode Inc., Australia
  • Midwest Industrail Packaging Inc, United States
  • Signode Korea Inc, Democratic People's Republic of Korea
  • SPG Packaging System Group Gmbh (Hilden), Germany
  • Diagraph, United States
  • ITW Gunther S.A.S, France
  • ITW Packaging (Qingdao) Co. Limited, China
  • Liljendals Bruck Ab, Finland
  • Signode Plastic, United States
  • Signode Engineered Products, United States
  • Signode Export and Distributor Service, United States
  • Signode Kabushiki Kaisha, Japan
  • Signode System Gmbh, Germany
  • ITW Mima Packaging Systems, Finland
  • ITW Shippers SPRL, Belgium
  • Signode Industrial Group Us Inc DBA Shippers Products, United States
  • Signode Systems (Thailand) Limited, Thailand
  • ITW Bulgaria, Bulgaria
  • SPG Packaging UK Limited Burntwood, United Kingdom
  • Signode Packaging (Quingdao) CO Limited, China
  • Signode Australia, Australia
  • Signode Brasileira LTDA, Brasil
  • Signode Singapore PTE Limited, Singapore
  • SIGNODE New Zealand, New Zealand
  • Signode Packaging, Kenya
  • ITW Packaging Malaysia SDN BHD, Malaysia
  • Signode Metals Europe, Germany
  • Signode Spain, Spain
  • Signode Hong Kong limited, Hongkong
  • Signode Mexico S de R.L de C.V, Mexico

 

 

CAPITAL STRUCTURE

 

As on 29.09.2017

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

150000000

Equity Shares

INR 10/- each

INR 1500.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

107086058

Equity Shares

INR 10/- each

INR 1070.860 Million

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in INR Million]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

31.03.2016

31.03.2015

31.03.2014

 

 

 

 

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

1070.860

1314.860

1491.860

(b) Reserves & Surplus

8205.342

9990.323

10998.256

(c) Money received against share warrants

0.000

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

0.000

0.000

0.000

Total Shareholders’ Funds (1) + (2)

9276.202

11305.183

12490.116

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

20.987

29.983

11.288

(b) Deferred tax liabilities (Net)

269.131

211.270

39.868

(c) Other long term liabilities

0.000

6.344

9.892

(d) long-term provisions

40.144

11.454

59.220

Total Non-current Liabilities (3)

330.262

259.051

120.268

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

441.366

100.000

0.000

(b) Trade payables

1361.605

1096.840

920.844

(c) Other current liabilities

276.583

110.920

211.670

(d) Short-term provisions

6.793

2.846

13.283

Total Current Liabilities (4)

2086.347

1310.606

1145.797

 

 

 

 

TOTAL

11692.811

12874.840

13756.181

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

1957.437

1525.234

1398.759

(ii) Intangible Assets

4844.873

6166.202

7487.531

(iii) Capital work-in-progress

15.845

374.895

63.657

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

205.401

0.165

0.165

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

352.767

278.241

216.380

(e) Other Non-current assets

24.086

39.720

46.819

Total Non-Current Assets

7400.409

8384.457

9213.311

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

1263.631

981.121

1090.429

(c) Trade receivables

1510.361

1759.266

2260.031

(d) Cash and cash equivalents

202.400

940.018

608.730

(e) Short-term loans and advances

355.839

327.735

563.198

(f) Other current assets

960.171

482.243

20.482

Total Current Assets

4292.402

4490.383

4542.870

 

 

 

 

TOTAL

11692.811

12874.840

13756.181

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2016

31.03.2015

31.03.2014

 

SALES

 

 

 

 

Revenue from Operations

9846.679

10422.969

3457.300

 

Other Income

99.725

89.647

38.978

 

TOTAL

9946.404

10512.616

3496.278

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

3564.795

3371.755

1202.775

 

Purchases of Stock-in-Trade

2500.277

2787.065

817.335

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

(217.045)

14.380

(44.423)

 

Employees benefits expense

1483.041

1435.098

496.121

 

Other expenses

940.009

911.572

407.010

 

CSR expenditure

2.140

1.118

0.000

 

TOTAL

8273.217

8520.988

2878.818

 

 

 

 

 

Less

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION 

1673.187

1991.628

617.460

 

 

 

 

 

Less

FINANCIAL EXPENSES

42.721

18.843

3.955

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

1630.466

1972.785

613.505

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

1503.186

1464.115

485.757

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

127.280

508.670

127.748

 

 

 

 

 

Less

TAX

57.861

171.402

43.753

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX

69.419

337.268

83.995

 

 

 

 

 

 

F.O.B. Value of Exports

648.571

747.972

 NA

 

 

 

 

 

 

IMPORTS

 

 

 

 

Raw Materials

216.483

239.645

31.527

 

Components and Stores parts

355.911

269.923

 5.694

 

Trading Goods

0.000

0.000

84.901

 

Capital Goods

88.444

72.336

 0.000

 

TOTAL IMPORTS

660.838

581.904

116.428

 

 

 

 

 

 

Earnings / (Loss) Per Share (INR)

0.56

2.38

1.48

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2016

31.03.2015

31.03.2014

Current Maturities of Long term debt

 NA

 NA

 NA

Net cash flows from (used in) operations

1421.063

2378.141

 127.748

Net cash flows from (used in) operating activities

1367.504

2261.317

 127.748

 

 

KEY RATIOS

 

EFFICIENCY RATIOS

 

PARTICULARS

 

31.03.2016

31.03.2015

31.03.2014

Average Collection Days

(Sundry Debtors / Income * 365 Days)

55.99

61.61

238.60

 

 

 

 

Account Receivables Turnover

(Income / Sundry Debtors)

6.52

5.92

1.53

 

 

 

 

Average Payment Days

(Sundry Creditors / Purchases * 365 Days)

81.94

65.00

166.38

 

 

 

 

Inventory Turnover

(Operating Income / Inventories)

1.32

2.03

0.57

 

 

 

 

Asset Turnover

(Operating Income / Net Fixed Assets)

0.25

0.25

0.07

 

 

LEVERAGE RATIOS

 

PARTICULARS

 

31.03.2016

31.03.2015

31.03.2014

Debt Ratio

((Borrowing + Current Liabilities) / Total Assets)

0.18

0.10

0.08

 

 

 

 

Debt Equity Ratio

(Total Liability / Networth)

0.05

0.01

0.00

 

 

 

 

Current Liabilities to Networth

(Current Liabilities / Net Worth)

0.22

0.12

0.09

 

 

 

 

Fixed Assets to Networth

(Net Fixed Assets / Networth)

0.74

0.71

0.72

 

 

 

 

Interest Coverage Ratio

(PBIT / Financial Charges)

39.17

105.70

156.12

 

 

PROFITABILITY RATIOS

 

PARTICULARS

 

 

31.03.2016

31.03.2015

31.03.2014

Net Profit Margin

((PAT / Sales) * 100)

%

0.70

3.24

2.43

 

 

 

 

 

Return on Total Assets

((PAT / Total Assets) * 100)

%

0.59

2.62

0.61

 

 

 

 

 

Return on Investment (ROI)

((PAT / Networth) * 100)

%

0.75

2.98

0.67

 

 

SOLVENCY RATIOS

 

PARTICULARS

 

31.03.2016

31.03.2015

31.03.2014

Current Ratio

(Current Assets / Current Liabilities)

2.06

3.43

3.96

 

 

 

 

Quick Ratio

((Current Assets – Inventories) / Current Liabilities)

1.45

2.68

3.01

 

 

 

 

G-Score Ratio Financial

(Networth / Total Assets)

0.79

0.88

0.91

 

 

 

 

G-Score Ratio Debt

(Debts / Equity Capital)

0.43

0.10

0.01

 

 

 

 

G-Score Ratio Liquidity

(Total Current Assets / Total Current Liabilities)

2.06

3.43

3.96

Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts

 

FINANCIAL ANALYSIS

[all figures are INR Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2014

31.03.2015

31.03.2016

 

INR In Million

INR In Million

INR In Million

Share Capital

1491.860

1314.860

1070.860

Reserves & Surplus

10998.256

9990.323

8205.342

Net worth

12490.116

11305.183

9276.202

 

 

 

 

Long Term borrowings

11.288

29.983

20.987

Short Term borrowings

0.000

100.000

441.366

Total borrowings

11.288

129.983

462.353

Debt/Equity ratio

0.001

0.011

0.050

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2014

31.03.2015

31.03.2016

 

INR In Million

INR In Million

INR In Million

Sales

3457.300

10422.969

9846.679

 

 

201.477

(5.529)

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2014

31.03.2015

31.03.2016

 

INR In Million

INR In Million

INR In Million

Sales

3457.300

10422.969

9846.679

Profit

83.995

337.268

69.419

 

2.43%

3.24%

0.70%

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Sr. No.

Check list by info agents

Available in Report (Yes/No)

1

Year of establishment

Yes

2

Constitution of the entity -Incorporation details

Yes

3

Locality of the entity

Yes

4

Premises details

No

5

Buyer visit details

--

6

Contact numbers

Yes

7

Name of the person contacted

Yes

8

Designation of contact person

Yes

9

Promoter’s background

Yes

10

Date of Birth of Proprietor / Partners / Directors

Yes

11

Pan Card No. of Proprietor / Partners

Yes

12

Voter Id Card No. of Proprietor / Partners

No

13

Type of business

Yes

14

Line of Business

Yes

15

Export/import details (if applicable)

No

16

No. of employees

No

17

Details of sister concerns

Yes

18

Major suppliers

No

19

Major customers

No

20

Banking Details

Yes

21

Banking facility details

Yes

22

Conduct of the banking account

--

23

Financials, if provided

Yes

24

Capital in the business

Yes

25

Last accounts filed at ROC, if applicable

Yes

26

Turnover of firm for last three years

Yes

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

No

29

Profitability for last three years

Yes

30

Major shareholders, if available

Yes

31

External Agency Rating, if available

Yes

32

Litigations that the firm/promoter involved in

--

33

Market information

--

34

Payments terms

No

35

Negative Reporting by Auditors in the Annual Report

No

 

NOTE: Registered office of the company has been shifted from 506 5th Floor, Centre Point, Andheri Kurla Road, J. B. Nagar, Andheri (East), Mumbai – 400059, Maharashtra, India to the present address w.e.f. 31.10.2013

 

CORPORATE INFORMATION

 

Subject is a public limited company domiciled in India and incorporated under the provisions of the Companies Act, 1956. The name of the Company was changed to Signode India Limited and a fresh certificate of incorporation was issued by the Registrar of Companies Maharashtra, Mumbai on August 23, 2013. It is a subsidiary of Strapex Holdings Limited, United Kingdom (UK) w.e.f. October 23, 2013. The Company is engaged in the business of industrial packaging. The Company caters to both domestic and international markets.

 

 

FINANCIAL REVIEW

 

During the year, the total revenue of the Company have recorded to INR 9946.400 Million as against INR 10512.600 Million in the previous year. The Company made a profit after tax of INR 69.400 Million as against profit after tax of INR 337.200 Million in the previous year.

 

 

FUTURE PROSPECTS

 

Company plans to increase capacity of packaging consumables manufacturing and also plans to acquire new contract packaging and export business.

 

 

INDEX OF CHARGES:

 

SNo

SRN

Charge Id

Charge Holder Name

Date of Creation

Date of Modification

Date of Satisfaction

Amount

Address

1

G34127662

100073867

HDFC BANK LIMITED

02/12/2016

-

-

600000000.0

HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai – 400013, Maharashtra, India

2

G12976379

10512086

State Bank of India

09/07/2014

03/05/2016

-

200000000.0

Industrial Finance Branch, Nav Bharat Chambers, Raj Bhavan Road, Somajiguda, Hyderabad – 500082, Telangana, India

3

C74223447

10506802

Citi Bank N.A.

12/06/2014

27/08/2015

-

700000000.0

1st Floor, Queens Plaza, Sardar Patel Road, Hyderabad – 500003, Telangana, India

 

 

 

 

CONTINGENT LIABILITIES:

 

(INR in million)

PARTICULARS

31.03.2016

31.03.2015

Other money for which company is contingently liable

230.377

213.841

 

 

FIXED ASSETS

 

  • Land
  • Buildings
  • Plant and equipment
  • Factory equipments
  • Furniture and fixtures
  • Vehicles
  • Motor vehicles
  • Office equipment
  • Leasehold improvements
  • Goodwill

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

1]         INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

 

2]         Court Declaration :

No records exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

 

3]         Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

 

4]         Record on Financial Crime :

            Charges or conviction registered against subject:                                                           None

 

5]         Records on Violation of Anti-Corruption Laws :

            Charges or investigation registered against subject:                                                        None

 

6]         Records on Int’l Anti-Money Laundering Laws/Standards :

            Charges or investigation registered against subject:                                                        None

 

7]         Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

 

8]         Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

 

9]         Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

 

10]        Press Report :

            No press reports / filings exists on the subject.

 

CORPORATE GOVERNANCE

 

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

 

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

 

 

CONTRAVENTION

 

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency

 
Unit

INR

US Dollar

1

INR 65.22

UK Pound

1

INR 92.77

Euro

1

INR 80.34

 

 

INFORMATION DETAILS

 

Information Gathered by :

SHAL

 

 

Analysis Done by :

VAR

 

 

Report Prepared by :

KJL

 

SCORE FACTORS

 

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

NO

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

NO

--AFFILIATION

YES/NO

YES

--LISTED

YES/NO

YES

--OTHER MERIT FACTORS

YES/NO

YES

 

RATING EXPLANATIONS

 

Credit Rating

Explanation

Rating Comments

A++

Minimum Risk

Business dealings permissible with minimum risk of default

A+

Low Risk

Business dealings permissible with low risk of default

A

Acceptable Risk

Business dealings permissible with moderate risk of default

B

Medium Risk

Business dealings permissible on a regular monitoring basis

C

Medium High Risk

Business dealings permissible preferably on secured basis

D

High Risk

Business dealing not recommended or on secured terms only

NB

New Business

No recommendation can be done due to business in infancy stage

NT

No Trace

No recommendation can be done as the business is not traceable

 

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors are as follows:

 

·         Financial condition covering various ratios

·         Company background and operations size

·         Promoters / Management background

·         Payment record

·         Litigation against the subject

·         Industry scenario / competitor analysis

·         Supplier / Customer / Banker review (wherever available)

 

 

 

 

 

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.